ArabianBusiness.com - Middle East Business News
Tuesday, 24 November 2009 20:56 UAE time

YOUR DIRECTORY /

| Share |

Kuwait's Abyaar gets $62m loan for property projects

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 27 June 2009
MONEY MATTERS: Abyaar will be receive the money in tranches upon the completion of the respective projects. (Getty Images)
MONEY MATTERS: Abyaar will be receive the money in tranches upon the completion of the respective projects. (Getty Images)

Kuwait's Abyaar Real Estate Development Co said it received 18 million dinars ($62.48m) in financing from the Bank of Kuwait and the Middle East (BKME) to help it complete projects.

Hesham Al Obaid, Abyaar's chairman, "explained that the new financing deal is estimated at around 18 million dinars, with the agreed tenor being up to 5 years" a joint statement said.

"The funds will be received by Abyaar in tranches upon the completion of the respective projects. Abyaar has been granted the finance against real estate collaterals," he said.

Story continues below ↓
advertisement

In January, Abyaar secured a 14 million dinar loan from BKME to pay off financial obligations and finance projects.

In February, Abyaar said said it signed an initial deal for loans worth 45 million dinars from Global Investment House in a debt rescheduling plan. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST REAL ESTATE

  1. Merger technical talks to conclude in a month - Emaar
  2. Dubai property market 'may take 10 years to rebound'
  3. Qatar house prices set to fall 15% next year
  4. Saudi's Tanmiyat eyes projects outside GCC region
  5. Abu Dhabi's maximum rent rise set at 5%

TOP MIDDLE EAST BUSINESS STORIES

  1. Islamic banks should target female market - report
  2. UK builders still chasing $330m from UAE - report
  3. UAE sees fourth consecutive month of deflation
  4. Union Properties in talks to sell 50% Emicool stake
  5. UAE grocery sales growth slumps in 2009

ALSO IN MIDDLE EAST REAL ESTATE

  1. Dubai's Oct property sales value rises by 50% - official
  2. Union Properties in talks to sell 50% Emicool stake
  3. Developer set to hand over AED1.2bn golf projects in 2010
  4. Dubai developers see negative press reports decline
  5. Merger technical talks to conclude in a month - Emaar

LATEST MIDDLE EAST BUSINESS NEWS

  1. Banking & Finance: Islamic banks should target female market - report
  2. Travel & Hospitality: flydubai set to launch new flights to Nepal
  3. Real Estate: Dubai's Oct property sales value rises by 50% - official
  4. Politics & Economics: UAE considers allowing citizens to elect 50% of FNC
  5. Travel & Hospitality: Emirates brings forward Paris A380 plans

SHARE PRICE CHECK

more » MIDDLE EAST MARKETS DATA

ABYAAR.KSE

Last Price:

0.00

0.00%

24 Nov 2009 12:56 GMT
(Market Closed)

RELATED STORIES

Abyaar Real Estate Development
| 21 stories
  1. Kuwait's Abyaar plans to acquire Sanam
    9 Jul '09 | News
  2. Kuwait's Abyaar to reschedule debt, book provisions
    18 Feb '09 | News

RELATED LINKS

  1. Abyaar Real Estate Development»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Abyaar Real Estate Development

  2. Real Estate


CURRENCY CONVERTOR

Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. Why I h8 junk txts 07
    24 Nov ' 09 at 12:46
    Trick them!Posted by Manish, Dubai - WHAT AN EXCELLENT IDEA - WHY NOT GIVE SOMEONES NUMBER IN ONE OF THE TELECOM'S DUOPOLYSURE WHEN...   More  »
  2. Dubai's Oct property sales value rises by 50% - official 05
    24 Nov ' 09 at 19:36
    These numbers can be very deceptive. If one house sold in the previous month, 2 houses selling the next month will give you a 50 %...   More  »
  3. 'Worrying' diabetes tests raise doubt on UAE's health 04
    24 Nov ' 09 at 13:42
    Obesity is on rise in every part of the world but especially in Gulf region especially due to life style changes.We all need to...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY